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every step that you can take to reduce the deficit is good. you negate the large ones and that's why they are not able. it is it simpson bowles. is it there forever. noven them grabbed it or used it and coming up. unable to pay back. unable to pay back. it is the first time everybody [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. >> college loans getting a failing grade. initiative deling quent student loan are surssing the deling quent credit card bances. >> it bothers me on so many levels and not because of my three kids going to college. we have an economic issue. kids are coming out of college and no job to pay off the loan. their disposable income is lower. they will be living at home . can't bay the f
every step that you can take to reduce the deficit is good. you negate the large ones and that's why they are not able. it is it simpson bowles. is it there forever. noven them grabbed it or used it and coming up. unable to pay back. unable to pay back. it is the first time everybody [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go....
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. >> we are having the conversation because of the debt and deficit levels that the country is facing . someone on the democratici side saying keep them and extend . republicans saying we have to cut somewhere. that's a real discussion. >> if i tld youhere was a program that cost you 30 billion and returned 18 billion to the economy and so had a net cost of 12 billion and supported 400,000 jobbings, you would say that is a good idea it is it not a matterf reducing the deficit because in congress we have people extending tax cuts that further blow a hole in the debt ceiling. >> i don't wt to be cruel, christian. i don't want to be curt. everydollar comes back a a $1.90 a. forget about the stock market and investing and put our money in unemployment benefits. its it resting on a complete fallacy of economics that conequals wealth. it is the same that pelosi and you. cash for clunkers and house stimulus . shov ready stimulus jobbings. >> johthon why don't you listeto mark sand zandy of moody who advised john mccain's presidential anything. it is nhing to do with a progressive position it
. >> we are having the conversation because of the debt and deficit levels that the country is facing . someone on the democratici side saying keep them and extend . republicans saying we have to cut somewhere. that's a real discussion. >> if i tld youhere was a program that cost you 30 billion and returned 18 billion to the economy and so had a net cost of 12 billion and supported 400,000 jobbings, you would say that is a good idea it is it not a matterf reducing the deficit...
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we're running such a huge deficit. unless he's a poker player and this is a bid to throw us off pace, that's not a serious proposal. we're not dealing with this seriously at 1600 pennsylvania avenue and he owes the population a lot more than he's owing. >> neil: adam, i'm worried that they make a christmas treeut of this and throwing more and more ornamts because it's the next legislation that we're cobblingogether we might as well put some spending in there. in this case, a minimum of 50 billion others like chuck scmer talked not trying to find a way to wiggle half a trillion dollars for another construction effort here, and on and on and on. >> well, of course, unfortunately, neil, i should say for better or worse, the way you're describing it is in fact the way it works, that's how the christmas tree gets built and-- >> you don't find it ironic, part of a year end fiscal cliff avoider meant to address spending includes measures that hike spending? >> well, you'll getting there. i mean, i think it's curious to-- >> w
we're running such a huge deficit. unless he's a poker player and this is a bid to throw us off pace, that's not a serious proposal. we're not dealing with this seriously at 1600 pennsylvania avenue and he owes the population a lot more than he's owing. >> neil: adam, i'm worried that they make a christmas treeut of this and throwing more and more ornamts because it's the next legislation that we're cobblingogether we might as well put some spending in there. in this case, a minimum of 50...
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pelosi says we cannot get our way to deficit reduction. listen to the top democrat in the house of representatives, the former speaker of th house unveiling -- on dealing with the fiscal cris one more time. >> in many homes across america ad is a very, very lean time. you cannot cut your way to ficit reduction. lou: toay said minority leader appeared to be trying to outperform policy and the political rhetoric of the absurd . senator reid's reason to be wary of reducing spending. >> the european community now is concerned about all the austerity. there are many, many things you can do to reduce dbt but still have a stimulus aspect of the economy. >> that -- lou: the senate's top democrat lieves we should return to europe for inspiration and guidance for fiscal policy, taking greece, perhaps, as a standard for dealing with econic a budget crises. the speaker did a charge the president is slow walking the nation to the brink of a fiscal cliff. that is one of the speakers firmest in the strongest statements yet. >> this is in a progress repor
pelosi says we cannot get our way to deficit reduction. listen to the top democrat in the house of representatives, the former speaker of th house unveiling -- on dealing with the fiscal cris one more time. >> in many homes across america ad is a very, very lean time. you cannot cut your way to ficit reduction. lou: toay said minority leader appeared to be trying to outperform policy and the political rhetoric of the absurd . senator reid's reason to be wary of reducing spending. >>...
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Dec 10, 2012
12/12
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this is a couple of days of operation for the federal government. 63 trillion deficit with medicare and social security between now and 2035. trillion with a t. >> big t. >> everybody is afraid to say no. to me, that the biggest risk. what keeps you up at night? >> keeping the investment pub lig and keep prague fegsal investors and people participating interested and confident under this market. right now whether you are in europe or the u.s., you don't have that opportunity. you are concerned about what the future has. we don't know what is going to happen going forward. >> as an invest over, are we living in a more risky environment now than ever? we grew up thinking america was the top of the world, best credit in the world, reserved currency. are things changing with regards to that? >> yeah, i think it is. i think the mind-set has changed. >> do you keep your money here or move it elsewhere. >> i think the u.s. is one of the most attractive places to invest in the world. it continues to serve us. i see the united states as being a great opportunity for invest many going forward and
this is a couple of days of operation for the federal government. 63 trillion deficit with medicare and social security between now and 2035. trillion with a t. >> big t. >> everybody is afraid to say no. to me, that the biggest risk. what keeps you up at night? >> keeping the investment pub lig and keep prague fegsal investors and people participating interested and confident under this market. right now whether you are in europe or the u.s., you don't have that opportunity....
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. >> and that is increasing and guess what, that adds up to the deficit, right? >> david, the problem is deeper than wh you are describing. this goes back decades. when you look at entitlement spending over the last half century, it has steadily crept up four percent every year and that includes adjustments for pulation growth. so what then? you increase taxes four percent every year? that is absurd. at some point we need both parts to come together and tax this entlement creep. we mention obama ape lot. he hasn't helped the numbers. but when you look at enment spending it goes up under a republican president. he can go in this and blame the republicans. >> i didn't know there was a entitlement creep. maybe i got you wrong. >> it is it an itch. >> and john, what abouthis. we have a budget if you can call it a budget that includes tax increases and no cuts at all from our treasury security. >> the tax increase aspect is ridickulous. we have a spending problem . you look at entitlements. i think it is i i don't they should exist. we did make promises and so the ide
. >> and that is increasing and guess what, that adds up to the deficit, right? >> david, the problem is deeper than wh you are describing. this goes back decades. when you look at entitlement spending over the last half century, it has steadily crept up four percent every year and that includes adjustments for pulation growth. so what then? you increase taxes four percent every year? that is absurd. at some point we need both parts to come together and tax this entlement creep. we...
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Dec 9, 2012
12/12
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FOXNEWS
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that leaves him with a trillion dollars budget deficit. so even if we do the tax increases, mr. president, what comes next? that's where we have to start addressing the spending side. >> the conversation a lot of folks don't want to have. republicans and democrats. >> republicans don't want to cut the military, the democrats don't want to cut entitlements and there's gridlock. but we have to get serious about this. if you look at businesses, the last four or five years and households, in recession they sucked in their stomach and got rid of extraneous spending. federal spending has gone up 30 or 40% as the private sector got efficient. i believe we have to get serious quickly about can you get spending. >> absolutely. you touched on this. we talked about if the president gets what he wants as far as getting additional revenue from high income earners, that amount would only fund the government for eight days. >> amazing. the whole argument we're having in washington -- >> can it be about that? >> what about the other 350 days. this doesn't -- the reason for that, shannon, there
that leaves him with a trillion dollars budget deficit. so even if we do the tax increases, mr. president, what comes next? that's where we have to start addressing the spending side. >> the conversation a lot of folks don't want to have. republicans and democrats. >> republicans don't want to cut the military, the democrats don't want to cut entitlements and there's gridlock. but we have to get serious about this. if you look at businesses, the last four or five years and...
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there are studies that say over million people and other deficits, close the huge deficits might not have a huge effect on the economy, however, if xes across the board and let's not forget the spending cuts that are ought maic in the defense industry, defense industry alone is looking at hundreds of thousands of job cuts next year with nos mandatory cuts go into effect. i'm not saying they are. so it's both cutting and taxing, we're too focus on the tax. bottom line, the government takes it out of the system cutting and raising taxes and the small or deficit. that means that people are going to be out of work, almost by definition in the short run. but in the long run it's a healthier economy that doesn't go down the path of greece. if the long run greece would have low unemployment, but they do not, but yes, we're going to go a percent, if it happens the worse case scenario, but in five years we won't be not able to borrow money. >> brenda: julian, you can go ahead and respond. >> first of l, the ernst & young study has been debunked over and ov. and number two, the bush tax cuts,
there are studies that say over million people and other deficits, close the huge deficits might not have a huge effect on the economy, however, if xes across the board and let's not forget the spending cuts that are ought maic in the defense industry, defense industry alone is looking at hundreds of thousands of job cuts next year with nos mandatory cuts go into effect. i'm not saying they are. so it's both cutting and taxing, we're too focus on the tax. bottom line, the government takes it...
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Dec 7, 2012
12/12
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FOXNEWSW
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the american indian tribe and they honored the president by giving him his own indian name running deficit. [ laughter ] >> the nation's debt is no laughing matter. lou dobbs will tell you why we are all in grave danger because of out-of-control government spending. three wise men, what did they do? >> jesse watters quizes the folks about christmas. >> they brought frankincense, miles an mur and. >> baby diapers? >> a wild wild waters world upcoming. >> caution, you are about to enter the no spin zone from california. factor begins right now. hi i'm bill o'reilly reporting from los angeles, thanks for watching us tonight. i'm here to do the leno program this evening. during the long flight across country, i had a chance to analyze something very important to you. all of us needs to wise up and fast. you may have heard the story of new york city police officer who spent $100 of his own money to give bare foot man some boots. that man jeffrey hillman lying in the street when officer deprimo spotted him. >> it was extremely cold that night and you see this gentleman i tried to offer him to bu
the american indian tribe and they honored the president by giving him his own indian name running deficit. [ laughter ] >> the nation's debt is no laughing matter. lou dobbs will tell you why we are all in grave danger because of out-of-control government spending. three wise men, what did they do? >> jesse watters quizes the folks about christmas. >> they brought frankincense, miles an mur and. >> baby diapers? >> a wild wild waters world upcoming. >>...
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when you think about it, the deficits cast, over a trillion dollars for the next four years. freckly this will add $80 billion a year. it is nonsense. it is a parody of reality, and the blood is not responsible about their duty is being fiscal managers for the united states. when you think about that, $20 trillion in four years. if you paid off a dollar a second you're talking about 670,000 years to pay is tough. the response is impractical, and when you look at the biggess growth which is entitlements and think about the dynamic shift in the demographics, people are getting older, living longer, the costs attributed to that with less workers, our population is not growing at much to mike catastrophic. if they don't do something realistic to curb spending problem. lou: as of tonight it looks like there is nothing realistic going on in washington d.c. imagine that. it is great to talk with you. i hope he will come back soon and often. amazing, as you saw. editorial cartoonist. up next ralph nader headlines a triumvirate of angry liberals over the weekend. we will have that str
when you think about it, the deficits cast, over a trillion dollars for the next four years. freckly this will add $80 billion a year. it is nonsense. it is a parody of reality, and the blood is not responsible about their duty is being fiscal managers for the united states. when you think about that, $20 trillion in four years. if you paid off a dollar a second you're talking about 670,000 years to pay is tough. the response is impractical, and when you look at the biggess growth which is...
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12/12
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. >> republicans frequently argue it is critical to get a handle on the nation's deficits before the u.s. becomes like greece. there a terrible economy with 26% unemployment, the highest in europe, and almost no job opportunities for young people frequently lead to riots in the streets. now here a leading democrat is suggesting cutting spending too quick -- too quickly is the real problem. >> the community is concerned about all of their as you teary too. there are many things you can do to reduce debt, but still have a a -- an aspect of the economy. >> some say europe's austerity is a drag on economic growth because it relies on taxation while failing to rein in the expansion of government. and that would seem to back up a republican theme in this fiscal cliff argument. >> if we raise taxes on the top two rates which is about a million small businesses who employ 25% of the workforce, it will cost us over 700,000 jobs and reduce economic growth and lower take home pay. that's a bad scenario. >> the lead negotiator on the republican side of the table facing mr. obama says raising tax
. >> republicans frequently argue it is critical to get a handle on the nation's deficits before the u.s. becomes like greece. there a terrible economy with 26% unemployment, the highest in europe, and almost no job opportunities for young people frequently lead to riots in the streets. now here a leading democrat is suggesting cutting spending too quick -- too quickly is the real problem. >> the community is concerned about all of their as you teary too. there are many things you...
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Dec 5, 2012
12/12
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KPIX
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we have a deficit in that. we'll get it back thursday, friday, saturday, sunday. we are not going to be warm, highs in the 60s. next week dry with cold nights and sunny but chilly afternoons. that's the cbs 5 forecast. >> thank you. >>> should california's mental health workers be allowed to try to make gay teenagers straight? the federal ruling today on conversion therapy. >> i enjoy doing this. giving back to the communities and kids. >> how bay area prison inmates are helping spread holiday cheer. ,, well, well, well. growing up, we didn't have u-verse. we couldn't record four shows at the same time. in my day, you were lucky if you could record two shows. and if mom was recording her dumb show and dad was recording his dumb show then, by george, that's all we watched. and we liked it! today's kids got it so good. [ male announcer ] get u-verse tv with a total home dvr included free for life. only $29 a month for six months. rethink possible. only $29 a month for six months. [ traffic passing ] ] ♪ [ music box: lullaby ] [ man on tv, indistinct ] ♪ [ lullab
we have a deficit in that. we'll get it back thursday, friday, saturday, sunday. we are not going to be warm, highs in the 60s. next week dry with cold nights and sunny but chilly afternoons. that's the cbs 5 forecast. >> thank you. >>> should california's mental health workers be allowed to try to make gay teenagers straight? the federal ruling today on conversion therapy. >> i enjoy doing this. giving back to the communities and kids. >> how bay area prison inmates...
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and that social security has nothing to do with the deficit. it is solvent and until 2037. medicare is solvent until 2024. you think where we're at, i know as i listen then the question would the republicans get anything, i don't even want to use the word conceding coming together on behalf of the american people where 62% believe on november 6th when the race was over the vote was really on whether or not should be a fair tax burden on those --. melissa: i'll give that to you. let's go ahead and raise taxes. say we do that. that doesn't get us close to solving the problem. i mean we still have $16.3 trillion in debt. we are still running $4 billion a day beyond what we're making. we this huge problem in this country. if it was a house you would throw uppyour arms in distress say, my god, we can never pay all these bills. that is sort of the point. >> i'm not in distress on that. first of all with the tax rrlief for 98% of the americans, we'll turn a reasoned amount of a trillion upwards back into the treasury. that is the first step. secondarily, a lot of economists will m
and that social security has nothing to do with the deficit. it is solvent and until 2037. medicare is solvent until 2024. you think where we're at, i know as i listen then the question would the republicans get anything, i don't even want to use the word conceding coming together on behalf of the american people where 62% believe on november 6th when the race was over the vote was really on whether or not should be a fair tax burden on those --. melissa: i'll give that to you. let's go ahead...
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that leaves us with the deficit of one. that is the deficit. sizable it is. this will be the president's fourth for which he is personally responsible, fourth deficit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that'sbout 8% of that deficit. so does that suggt we have a tax problem or, perhaps, a spending problem? think about this taxpayers making more than $250,000 representing the top 2% paid more than 46% f all texas. that would seem like a pretty fair deal to most of us, but the president says it is not fair. we don't know what that number is. how much should it be? and contrary to what the president would have you believe as he campaigns untack sites all around the country and against the wealthy, he's doing a lot of that. the bush tax rates are not the root of our problems. in fact, individual tax payments rose, get this, $2,303,000,000,000 or 26%. over the past tw
that leaves us with the deficit of one. that is the deficit. sizable it is. this will be the president's fourth for which he is personally responsible, fourth deficit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that'sbout 8% of that deficit. so does that suggt we have a tax problem or, perhaps, a spending...
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we go the to 2010, 2011, 2012 it adds up close to where our deficit is. neil: a very good pnt. i wish we had more time. b s little time. more after ts. i ierrupt, you interrupt, and i ierrupt, you interrupt, and then you sende all sorts of you know how painful hearn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps blocktomach acid from splashing up- relievinghe pain quickly. t fast, long lasting gaviscon®. relievinghe pain quickly. 7,000 students droout every school day. that's a line of desks more than 4 miles long. keep students in school. visit boostup.org and take the firsttep. >> rememr the-mails abouttmy interruptions? i read it through of flurry of commons that interru y too much. that dot dozens of peopl fired . for thospeople w rate the mean matte are not. >> i love you bled if interrupting people was money would be a millionaire. >> how couldnybody
we go the to 2010, 2011, 2012 it adds up close to where our deficit is. neil: a very good pnt. i wish we had more time. b s little time. more after ts. i ierrupt, you interrupt, and i ierrupt, you interrupt, and then you sende all sorts of you know how painful hearn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps blocktomach acid from splashing up- relievinghe pain quickly. t fast, long lasting gaviscon®....
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government budgets that are in deficit at every level. there is no other bacstop other than therganizations like us and othersho are serving thess communities, and that it is important to understand that we ve to take a fair and balanc approach. when announcing e all moneey to contribute to getting our fiscal hoe in order. we asolutely do, bu we have to do it on the spendg side and we have to like a t sources of revenue, all the sourc of revenue, not jut a charitab deductions to figure out how to get our fiscal house in order. gerri: i don't know if it will happeny the end of the month. we have a long way to go. everyone seems to be talking pass themselves. thank you for coming on. apeciate your time. great information. >> thank you. gerri: likely be hurt the most of the deductions goal weight make up tong's top five. food for the poor. based in flrida using 97% of its billion dollars in revenue for its charitable commitments. for more infrmatonvisit food for the poor. the american red cross which we have heard a lot about recently in the
government budgets that are in deficit at every level. there is no other bacstop other than therganizations like us and othersho are serving thess communities, and that it is important to understand that we ve to take a fair and balanc approach. when announcing e all moneey to contribute to getting our fiscal hoe in order. we asolutely do, bu we have to do it on the spendg side and we have to like a t sources of revenue, all the sourc of revenue, not jut a charitab deductions to figure out how...
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absolutely are going to die if things start to change and in fact, the underlying real problem, the growing deficit on the path to greece, the goalets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little bit, maybe as much as jump off the cliff, but it's certainly a slippery slope. >> brenda, the damage is already being done. we saw it in november retail sales and companies delaying activity already and we know the ratings agencies are minutes away, we're right to fix the problem in the long run than making a bandaid short-term d
absolutely are going to die if things start to change and in fact, the underlying real problem, the growing deficit on the path to greece, the goalets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and...
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Dec 6, 2012
12/12
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MSNBC
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and it is, over the long-term, projected to be the biggest contributor to deficits down the road. which mean people in the country, voters everywhere, love medicare and do not want it to be cut. and wonks in washington, d.c. spend their time trying to figure out how to cut medicare. both democrat and republican. and with this very thorny contradiction in mind, politicians and think tank analysts and the like have developed a whole secondary-coated language to talk about medicare. so premium support instead of privatizing medicare, and structural medicare reform instead of raising the eligibility age. now, remember the context for all this. this is important. remember that phrase we first started hearing at the start of the health reform debate, which may be apocryphal, "keep government hands off my medicare." the big tea party uprising was in large part a reaction to the idea, quote/unquote, of socialized medicine. it was the affordable care act, and the government, quote, takeover of health care, that fanned the flames of the post-obama tea party protest. but, of course, most of
and it is, over the long-term, projected to be the biggest contributor to deficits down the road. which mean people in the country, voters everywhere, love medicare and do not want it to be cut. and wonks in washington, d.c. spend their time trying to figure out how to cut medicare. both democrat and republican. and with this very thorny contradiction in mind, politicians and think tank analysts and the like have developed a whole secondary-coated language to talk about medicare. so premium...
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now they're moving to a deficit of 16.3 billion is the projection. that sound pretty bleak to me. what happened? >> well, you know we're talking about a portfolio of well over a trillion dollars. and $16 billion is a huge number but it is really driven by the fact that house prices are not recovering as quickly as previously thought. and one thing that is very interesting in this acutarial is actually the loans originated in 2010, 11 and 12 are expected to be profitable and actually help the fund. but it is loans that were done during the really bad years in this country before the housing crisis that are continuing to have the shadow effect on the fha portfolio and that what's driving this loss expectation just recently released and secretary donovan talked about today. melissa: there is evidence they continue to make bad bets going forward. this is part of this program to help people buy houses and help people who have low fico scores and who have had problems in their past. maybe their way of doing business, and you're someone who sat at the helm for a long time, maybe their wa
now they're moving to a deficit of 16.3 billion is the projection. that sound pretty bleak to me. what happened? >> well, you know we're talking about a portfolio of well over a trillion dollars. and $16 billion is a huge number but it is really driven by the fact that house prices are not recovering as quickly as previously thought. and one thing that is very interesting in this acutarial is actually the loans originated in 2010, 11 and 12 are expected to be profitable and actually help...
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equation, besides allowing h to retain his approach, which is continuing to spend and rack up massive deficits and continuing higher taxes without any plan that bears that out. remember that his budgethikes taxes and still spends $47 trillion over the next 10 years. gerri: to that point, you look at the approval rating now going down for the first time since the election at 49%. i think it tells you something. maybe american people are looking at this and it looks a whole lot like campaigning to me. it is like the election never happen. we are still campaigning on the campaign trail. today in pennsylvania, talking about what needs to be done. shouldn't he be in the wite house hosting the negotiations himself instead of sending his foot soldier, timothy geithner, the fellow who put together the biggest bailout in american history? talking about someone who is going to be good at negotiating on our taxpayer dollars. i would think that timothy geithner s not the man we met i would agree with you. this is actually shocking. i'm going to say that the president won, no contest there. can we get past
equation, besides allowing h to retain his approach, which is continuing to spend and rack up massive deficits and continuing higher taxes without any plan that bears that out. remember that his budgethikes taxes and still spends $47 trillion over the next 10 years. gerri: to that point, you look at the approval rating now going down for the first time since the election at 49%. i think it tells you something. maybe american people are looking at this and it looks a whole lot like campaigning...
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we have four years without a budget, three yearsithout a budget -- three yes with a trillion dollar deficit. so we are talking about a problem that needs to be solved with massive spending cuts on the table. neil: i don't know what is really happening behind the scenes. but i do know that these overtures and hands that you get from the white house that the president is open and willing to consider spending cuts -- i don't know what the truth is. the other thing on this middle ground, the tax thing -- letting e difference of 37 or 38%. giving the appearance that there is a middle ground being found here, do you believe that? >> if you look at the middle ground and what is reported, they are giving specifics on taxes, but not stunning. they are saying that those tax cuts will happen 10 to 20 years from now. th is saying that congress at that time, 10 years from now, is going to agree with the spending cuts. listen, we are in this situation because coogress could not even agree on spending cuts you way when the sequester was going into effect and they failed as a super committee in november. t
we have four years without a budget, three yearsithout a budget -- three yes with a trillion dollar deficit. so we are talking about a problem that needs to be solved with massive spending cuts on the table. neil: i don't know what is really happening behind the scenes. but i do know that these overtures and hands that you get from the white house that the president is open and willing to consider spending cuts -- i don't know what the truth is. the other thing on this middle ground, the tax...
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so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional cuts. i do want to remind you though, that we have already voted on one trillion dollars of cuts, cuts that would cause great pain. i agree what you 100%. it can not be done. melissa: spending cutting numbers are even smaller than the tax numbers. they don't get us there either. i'm worried about stalling the economy. in the meantime when we talk about raising taxes and what it would do to small business. democrats like to point out we would only raise taxes on 3% of small business owners. >> right. melissa: but that 3% generates 50% of the income from small business. so they're hiring the majority of people. to me that is going to cost us jobs. >> well, you know what? i think that what will cost us jobs for sure is if we go off thissfiscal cliff, because it is not just about raising tacks. it is also about the debt ceiling. it is about unemployment insurance. we have number of key
so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional cuts. i do want to remind you though, that we have already voted on one trillion dollars of cuts, cuts that would cause great pain. i agree what you 100%. it can not be done. melissa: spending cutting numbers are even smaller than the tax numbers. they don't get us there either. i'm worried about stalling the...
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Dec 6, 2012
12/12
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MSNBCW
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, there is brand-new polling out today on how americans feel about the idea of congress using these deficit negotiations to make cuts to medicare. 79% of americans say they do not want congress to touch medicare in these deficit negotiations. 79%. if you want to get specific about john boehner's proposal, what he wants to do to medicare is to raise the eligibility age from 65 to 67. and as it turns out, there is also recent polling on that specific proposal. and it is also super unpopular. look at this. almost 70% of americans say they oppose raising the eligibility age for medicare. that number is slightly higher among republicans than it is for the general population. more republicans oppose john boehner's plan than the already extremely high margin of the general public that opposes john boehner's plan. now, if you're following the news very closely in this slow-motion, groundhog day-esque political negotiation, maybe yoç already knew that john boehner wants to raise the medicare eligibility age. but if you just sort of glanced at john boehner's actual letter to the president with his p
, there is brand-new polling out today on how americans feel about the idea of congress using these deficit negotiations to make cuts to medicare. 79% of americans say they do not want congress to touch medicare in these deficit negotiations. 79%. if you want to get specific about john boehner's proposal, what he wants to do to medicare is to raise the eligibility age from 65 to 67. and as it turns out, there is also recent polling on that specific proposal. and it is also super unpopular. look...
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last i looked at the trade deficit, we were, again, lagging and uke sking popped water. there's arising deficit stripping our gdp. >>nd right now europe is in a relative deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. w long will that be the case if we go over the cliff? >> won't be the case for long if we have a recession followed by a typical bear market. lou: how long to get to recession -- >> we can get there pretty quick. in fact, some of the down downdrafts are starting to form. we saw those in the q3 gdp numbers were sinking into @%ntraction. lou: 2.7 -- >> employment reports gnar november and december, not surprised if gains in private sector payrolls are well over 100,000 new jobs. lou: that would not be good. baseline at least, i think, for passable is 125. what's your judgment? >> about the same, okay, that's a c-minus grade, get a "c" if we hit 150. lou: might s
last i looked at the trade deficit, we were, again, lagging and uke sking popped water. there's arising deficit stripping our gdp. >>nd right now europe is in a relative deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. w long will that be the case if we go over the cliff? >> won't be...
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. >> is a big deal because the way you eliminate a trillion dollar deficit is a billion dollars at a time. the wavy you get a billion dollars is 100 million or $10 llion at a time. so what is our excuse? can we say that it is okay to waste money and hundreds of thousands of small areas that add upo trillions of dollars? or do we have to look at big areas? what i would put forward is congress isn't doing their job and how they write it and oversight it. i still pick up anyof my feet on the ground because the penny is were 3.5 cents. anyone in america who is struggng today, we don't have the luxury of ignoring stupidity and waste anymore. charles: i have less than a minute. i have to squeeze this in here. you think we could be a transitional tranormative point in thisscountry where it is okay? where it is okay to spend money we don't have? where the american public has given a thum-up to the idea? >> i do not think that they have given a thumbs up. i think this last election was about what was what will hurt our growth. but nothing in terms of discussion about the money that gets waste
. >> is a big deal because the way you eliminate a trillion dollar deficit is a billion dollars at a time. the wavy you get a billion dollars is 100 million or $10 llion at a time. so what is our excuse? can we say that it is okay to waste money and hundreds of thousands of small areas that add upo trillions of dollars? or do we have to look at big areas? what i would put forward is congress isn't doing their job and how they write it and oversight it. i still pick up anyof my feet on the...
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. >> first of all, we don't have the money to pay for the pt two deficits. i don't believe weevil have the money for the current spending related to sandy. there's not a tax for that, pretty sure. to the point to have the additional costs which would have to be hundreds and hundreds of billions of dollars, where's that's coming from? unless they use taxes on fuels to be the solution, that, at least, in theory, does not st the government money. it doesn't mean it passes or have other effects. neil: cost money? >> not economy, but it will not look like they need o spend to solve the problem if that's the way it es. neil: [inaudible] >> yeah, we're broke. we're turn your pockets inside out, it's over. no money. neil: you got the point across. thank you, both, very much. washington, we have a problem. don't think so? here's it's straight from the real guys behind this, after this. ♪ >> in is hoton, say again, please. >> houston, we have a problem. we have a main bolt, we have a lot of thruster, activity, houston. houston. just went offline. having you ship my
. >> first of all, we don't have the money to pay for the pt two deficits. i don't believe weevil have the money for the current spending related to sandy. there's not a tax for that, pretty sure. to the point to have the additional costs which would have to be hundreds and hundreds of billions of dollars, where's that's coming from? unless they use taxes on fuels to be the solution, that, at least, in theory, does not st the government money. it doesn't mean it passes or have other...
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Dec 10, 2012
12/12
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FBC
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have said i would work with republicans on a plan for economic growth, jobs creation and reducing our deficits. and have some compromise between democrats and republicans, i understand people have a lot of different views, i'm willing to compromise a little bit. >> the president met with speaker john boehner yesterday. not discussing any details of the conversations, just saying as you said at the top, lines of communications are open. also talking to senate majority leader harry reid today as well. everybody is talking but we don't have a deal yet. tracy: is anybody talking about spending or entitlements, peter? >> they're making it pretty clear. one statement we got from speaker john boehner's office today was that the republicans continue to wait for the president to make specific proposals for cutting spending.3 that is what they want. tracy: we don't sound any closer to me, but again i am skeptical. down in d.c. >> great, thanks. traay: the president is going to @ompromise as peter just said. what are republicans willing to compromise on. we have got to ask mike lee of utah. i am sorry i
have said i would work with republicans on a plan for economic growth, jobs creation and reducing our deficits. and have some compromise between democrats and republicans, i understand people have a lot of different views, i'm willing to compromise a little bit. >> the president met with speaker john boehner yesterday. not discussing any details of the conversations, just saying as you said at the top, lines of communications are open. also talking to senate majority leader harry reid...
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Dec 10, 2012
12/12
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WTTG
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dallas cuts the deficit to two points. final seconds dan bryant, sets up from 40 yards out and calmly nails the game winning field goal as time expires. cowboys rally to edge the bengals 20-19. dallas like the redskins 7-6 a game behind the nfc east leading giants. >>> the bucs with the 2002 reunion of their super bowl team prior to todays game with the philadelphia eagles, four minutes to go, eagles trail 21- 10. rookie nick foles steps up and hits clay harbor. philly down five. the game's final play folds as jeremy maclin sliding catch inbounds, game winning score. eagles win for the first time in 70 days. they help the redskins in the process, a 23-21 win as bucs fall to 6-7. >>> the seahawks hosting the cardinals hoping to solidify their wildcard standing. the cards would not offer much resistance. marshawn lynch breaks to the outside, 20 yards for the first of three touchdowns for lynch. seahawks up 10 -0. 2nd quarter now 24-0 and the seahawks punting to arizona's patrick peterson. he muffs that and the battle rattles
dallas cuts the deficit to two points. final seconds dan bryant, sets up from 40 yards out and calmly nails the game winning field goal as time expires. cowboys rally to edge the bengals 20-19. dallas like the redskins 7-6 a game behind the nfc east leading giants. >>> the bucs with the 2002 reunion of their super bowl team prior to todays game with the philadelphia eagles, four minutes to go, eagles trail 21- 10. rookie nick foles steps up and hits clay harbor. philly down five. the...
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Dec 4, 2012
12/12
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CNBC
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you're not going to -- >> i'm also a deficit hawk, joe. >> you are a deficit hawk. and, howard, i know obama won the election, but in this country you need the house to vote on something to make it law, and if they just say no the 39.6 on the high end, if you just let -- go over the cliff, it's going to 39.6. there would be in discussing it. it's going there. >> let's be fair about this. i mean, what i'm proposing is not -- neither the republicans nor the democrats like. because not only does it go to 39.6 on the wealthy which i support, but it also goes back to what people were paying when bill clinton was president for the middle-class and the truth of the matter is no matter what people said in the election, you cannot solve this deficit problem without everybody paying more taxes not just rich people. >> you can go to 100% and not 39.6. you'd like to in a perfect world, i know you, you would like to go to 100%. but you're not going to be able to do that. >> only on television personality. >> you go from raising, like, $80 billion a year which on a trillion dolla
you're not going to -- >> i'm also a deficit hawk, joe. >> you are a deficit hawk. and, howard, i know obama won the election, but in this country you need the house to vote on something to make it law, and if they just say no the 39.6 on the high end, if you just let -- go over the cliff, it's going to 39.6. there would be in discussing it. it's going there. >> let's be fair about this. i mean, what i'm proposing is not -- neither the republicans nor the democrats like....
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Dec 7, 2012
12/12
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FOXNEWSW
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it would hardly make a dent in the yearly deficit and not even a chip of a cent off the debt. he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement, and in that respect sadly obama is having some success. now so long as this debate is focused not on cutting spending but on raising daxs and revenues with the only question being which taxes, how much revenue, then obama wins. now if obama succeeds in making the argument not about his spending, but about grover norquist, he wins there, too. for republicans, on the other hand, if they can figure out a way to refocus the debate on spending, they win and the country wins. we can't kid ourselves that's correct is not easy to do. obama has the biggest microphone in the land and he also has
it would hardly make a dent in the yearly deficit and not even a chip of a cent off the debt. he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement,...
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Dec 8, 2012
12/12
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FOXNEWSW
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and just to add insult, and here's the insult, he demands congress give up the power to control the deficit. that's obviously meanlt to humiliate the republicans. it's a non-starter. it's not acceptable. it's a way of saying to boehner you want to hand me your sword, you want to hand me your shirt? i want your trousers as well. the white house is not budging, and everybody's waiting, meaning the media, the administration are waiting for republicans to cave. >> look. i agree totally with you and their posture, their public posture appears that they're going that way. i'll give you a quick example. when john boehner started to answer the other day and he said well, our plan is to raise revenues on the rich, he was co opting barack obama's language and we read this week about the purging and the removal of conservatives and tea party members from their committee assignments because they didn't vote the way speaker boehner wants. that seems to me to be evidence that a surrender is coming. >> well, i'm not sure it's the appointments so much as the substance of the negotiations. i think, you know
and just to add insult, and here's the insult, he demands congress give up the power to control the deficit. that's obviously meanlt to humiliate the republicans. it's a non-starter. it's not acceptable. it's a way of saying to boehner you want to hand me your sword, you want to hand me your shirt? i want your trousers as well. the white house is not budging, and everybody's waiting, meaning the media, the administration are waiting for republicans to cave. >> look. i agree totally with...
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Dec 4, 2012
12/12
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that's not enough tobalanced pl actually reduces the deficit and putts on a path to long-term stability. what i need, what the country needs what the business community needs in order to get to where we need to be is an acknowledgement that folks like me can afford to pay a little bit higher rate you if we combine that with a tax reform process and entitlement reform. then we can get a $4 trillion deficit reduction package. >> you can begin to see, if you take $400 billion in deductions, combine that with a partial increase in the top rate, remember, the president proposed to get about $1 trillion from raising the top rate to 396, you can see how some of the elements of a revenue package come together. one other note from that interview, tyler and sue, was that the president was asked will you bring a big business executive into your cabinet? he said i would love to. i'm in constant conversation. one of the challenges, though, is the confirmation process, which is difficult and forbidding for a lot of those business executives to go through. >>> it is, indeed, john. from what you heard
that's not enough tobalanced pl actually reduces the deficit and putts on a path to long-term stability. what i need, what the country needs what the business community needs in order to get to where we need to be is an acknowledgement that folks like me can afford to pay a little bit higher rate you if we combine that with a tax reform process and entitlement reform. then we can get a $4 trillion deficit reduction package. >> you can begin to see, if you take $400 billion in deductions,...
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Dec 5, 2012
12/12
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CNNW
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we were very concerned because we thought the budget was going to be -- the deficit was going to be about $150 billion. that shocked everyone into action. then, unlike now, there remains some degree of bipartisanship. there was comity, there was discussion, even as we battled over the budget, we worked together in a bipartisan way on many other issues. you didn't have the total polarization that you have today. >> i mean, when you were elected senate majority leader, i understand one of the first people that you called was the minority leader, senator dole. >> that's right. i called him right away, i went to see him almost immediately, and i said to him look, you've been here a long time, i'm relatively new, these are very tough jobs in the best of circumstances, and if we don't have some degree of trust between us, they will be impossible jobs. so i said to him i want to tell you how i intend to behave toward you and to ask that you behave towards me in the same way. and we agreed on the most basic of things. i told him i would not surprise him, that's important in the senate. that he wo
we were very concerned because we thought the budget was going to be -- the deficit was going to be about $150 billion. that shocked everyone into action. then, unlike now, there remains some degree of bipartisanship. there was comity, there was discussion, even as we battled over the budget, we worked together in a bipartisan way on many other issues. you didn't have the total polarization that you have today. >> i mean, when you were elected senate majority leader, i understand one of...
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being critical of our candidates but they talked about how dire the circumstances are with our economy deficits but they put forward a plan that did not change entitlement for 10 years, if we' in a dire point, how can you say that -- they -- we did not make -- we made the case there is a problem. but they look add solution, they said it can't be too big of a problem if you are waiting 10 years to solve it. neil: rick santorum, always a prez eapleasure senator. hardest working senator. >> hard work does payoff, it does. neil: just a few moments, senator jim demint on why he is taking a sprint. is the tea party's loudest voice in the senate leaving the tea party high and dry? he is hereafter with the spark miles card from capital one, thor gets great rewards for his small business! your boa! [ rth ] thor's small business earns double miles on every pchase, every day! ahh, the new fabrics. put it on my spark card. ow. [ garth ] why settle for less? the spiked heels are working. wait! [ garth ] great businesses deserve great rewards. [ le announcer ] the spark business card from capital one. choose
being critical of our candidates but they talked about how dire the circumstances are with our economy deficits but they put forward a plan that did not change entitlement for 10 years, if we' in a dire point, how can you say that -- they -- we did not make -- we made the case there is a problem. but they look add solution, they said it can't be too big of a problem if you are waiting 10 years to solve it. neil: rick santorum, always a prez eapleasure senator. hardest working senator. >>...